Business Administration 2295F/G Chapter Notes - Chapter 7: Intangibility, Brand Equity, Rolex
21 Oct 2014
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Document Summary
Product: a good, a service, or an idea, consisting of a bundle of tangible and intangible attributes. Non-durable goods: items that do not last and that are consumed only once, or for a limited number of times. Durable good: product that lasts for an extended period of time. Virtual services: services that exist only online and have no person-to- person interaction. Service continuum: a range from tangible goods to intangible goods. Four unique elements: intangibility, inconsistency, inseparability and inventory four i"s of services . They cannot be held, touched or seen before a purchase. Marketers demonstrate bene ts of using service beforehand, testimonials/ demonstrations. Developing,pricing, promoting, and delivery services is challenging because quality is dependent on person doing it. Try to overcome this by training employees on how to deliver a consistent quality experience. Consumer cannot separate the deliverer of the service from the service itself. More complex than that of goods due to the nature of services.
